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A corporate bond has a face value of 1000 and an annual

A corporate bond has a face value of $1,000 and an annual coupon interest rate of 7%. Interest is paid annually. 10 years of the life of the bond remain. The current market price of the bond is $1232. To the nearest 1/100 0f 1 percent, what is the yield to maturity (YTM) of the bond today?

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Financial Management: A corporate bond has a face value of 1000 and an annual

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